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MPLX LP (MPLX) Stock Moves -0.85%: What You Should Know
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MPLX LP (MPLX - Free Report) closed the most recent trading day at $33.96, moving -0.85% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.56%. At the same time, the Dow lost 1.81%, and the tech-heavy Nasdaq lost 4.66%.
Coming into today, shares of the company had gained 7.17% in the past month. In that same time, the Oils-Energy sector gained 6.91%, while the S&P 500 gained 3.82%.
Wall Street will be looking for positivity from MPLX LP as it approaches its next earnings report date. This is expected to be January 31, 2023. On that day, MPLX LP is projected to report earnings of $0.85 per share, which would represent year-over-year growth of 8.97%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.57 billion, down 5.92% from the year-ago period.
It is also important to note the recent changes to analyst estimates for MPLX LP. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.66% lower. MPLX LP currently has a Zacks Rank of #3 (Hold).
In terms of valuation, MPLX LP is currently trading at a Forward P/E ratio of 9.91. For comparison, its industry has an average Forward P/E of 16.65, which means MPLX LP is trading at a discount to the group.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 92, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MPLX in the coming trading sessions, be sure to utilize Zacks.com.
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MPLX LP (MPLX) Stock Moves -0.85%: What You Should Know
MPLX LP (MPLX - Free Report) closed the most recent trading day at $33.96, moving -0.85% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.56%. At the same time, the Dow lost 1.81%, and the tech-heavy Nasdaq lost 4.66%.
Coming into today, shares of the company had gained 7.17% in the past month. In that same time, the Oils-Energy sector gained 6.91%, while the S&P 500 gained 3.82%.
Wall Street will be looking for positivity from MPLX LP as it approaches its next earnings report date. This is expected to be January 31, 2023. On that day, MPLX LP is projected to report earnings of $0.85 per share, which would represent year-over-year growth of 8.97%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.57 billion, down 5.92% from the year-ago period.
It is also important to note the recent changes to analyst estimates for MPLX LP. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.66% lower. MPLX LP currently has a Zacks Rank of #3 (Hold).
In terms of valuation, MPLX LP is currently trading at a Forward P/E ratio of 9.91. For comparison, its industry has an average Forward P/E of 16.65, which means MPLX LP is trading at a discount to the group.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 92, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MPLX in the coming trading sessions, be sure to utilize Zacks.com.